IT sleuths may quiz BSP leaders over Rs 100 crore deposits in banned notes: reportAmid reports that over Rs 100 crore in outlawed currency was deposited into bank accounts of Bahujan Samajwadi party , the Income Tax department is planning to quiz BSP leaders over the unusually high deposit.
Amid reports that over Rs 100 crore in outlawed currency was deposited into bank accounts of Bahujan Samajwadi party , the Income Tax department is planning to quiz BSP leaders over the unusually high deposit.
The BSP, in its audited returns before the Election Commission (EC), has consistently maintained that it does not receive donations of more than Rs 20,000 each, and, therefore, is not required to disclose who all have been helping it with money, reports Times of India.
In a declaration before the EC in July, the party had claimed to have a bank balance of Rs 514 crore (as on March 31, 2016), says the report.
Under Section 13(A) of Income Tax Act, political parties are exempt from paying tax on donations they receive provided they disclose the identity of each donor who makes a contribution of Rs 10,000 or above.However political parties are required to disclose the names of donors who have contributed Rs 20,000 or more.
Earlier, it emerged that the Enforcement Directorate has revealed that Rs 104.36 crore was placed in BSP’s account in Union Bank located at New Delhi’s Karol Bagh.
Of the total deposit of Rs 104 crore, Rs 101 crore came in notes of Rs 1,000, with those of Rs 500 accounting for the rest.
The outlawed currency deposits were made between December 2 and 9.
The BSP has several accounts in different banks in the Capital and outside
Day-wise breakdown of deposition:
Nov 10 – Rs 36 lakh
Dec 2 – Rs 15 crore
Dec 3 – Rs 15.8 crore
Dec 5 – Rs 17 crore
Dec 6 – Rs 15 crore
Dec 7 – Rs 18 crore
Dec 8 – Rs 18 crore
Dec 9 – Rs 5.2 crore
What makes this activity seem suspicious is the fact that before November 10, no big transactions were done in the party’s account in Union Bank.
On a related note, Mayawati’s brother Anand Kumar also has an account in the same branch of Union Bank and as of December 23, his account had a balance of Rs 1.43 crore.
Out of the total amount, Rs 18.93 lakh was deposited in cash in his account.